State Act

The Daman and Diu Value Added Tax Regulation 2005

This Act was repealed on 26 January 2020 by the Dadra and Nagar Haveli and Daman and Diu (Repeal) Regulation, 2020 (5 of 2020), s.2(1) and Schedule item (1); it may still apply to matters that began before then.

24. (1) Every dealer— (a) who has been registered under the Daman and Diu Sales Tax Act, 1964, on or before the commencement of this Regulation; and (b) whose turnover, in the year preceding the year in which this Regulation comes into force, exceeds the taxable quantum, shall be deemed to be registered under this Regulation from the date on which this Regulation comes into force. (2) The security furnished by a dealer registered under the Daman and Diu Sales Tax Act, 1964, and such security being valid on the date of the commencement of this Regulation, shall be deemed to have been furnished under this Regulation and shall be valid under this Regulation for a period of six months from the commencement of this Regulation or till a fresh security as required under sub-section (3) is furnished, whichever is later. (3) Every dealer referred to in sub-section (1) shall, within a period of six months of the commencement of this Regulation, be required to furnish a fresh security under this Regulation: Provided that the Commissioner may, having regard to the financial position of the dealer and any other matter which the Commissioner considers relevant, by notification, exempt a class or classes of dealers from the requirement of furnishing a fresh security under this sub-section.